ARCHBOLD — Farmers and Merchants Bancorp Inc. has reported financial results for the 2018 fourth quarter
and 12 months ending Dec. 31.
The 2018 fourth quarter financial highlights include (on a year-over-year basis unless noted):
• 63 consecutive quarters of profitability
• Net interest income after provision for loan losses increased 6.3 percent to $10 million
• Net income was $3.2 million and included $742,000 of one-time merger related expenses
• Earnings per basic and diluted share were $0.34 and included $0.07 per basic and diluted share of
one-time merger related expenses
• Return on average assets, excluding one-time merger related expenses, was 1.39 percent, compared to
1.25 percent for the same period last year
• Return on average equity, excluding one-time merger related expenses, was 10.92 percent, compared to
10.29 percent for the same period last year
“For the fourth consecutive year, F&M has achieved record results including record assets and
earnings, and we ended 2018 with strong operational and financial momentum,” said Lars B. Eller,
president and chief executive officer. “This is an exciting time at the company as we focus on
integrating the Limberlost Bancshares acquisition, continuing our geographic expansion, and investing in
new ways to engage with and provide value for our customers.”
For the full report, visit
https://www.fm.bank/documents/FMAO_+4Q18_Earnings_Release_%28v6%29.pdf